Franchise Audit Services
Need An Audit Done Due To FDD Requirements?
Are you a franchisor who’s looking for a CPA to Audit their books and suggest best practices?
You are in the right place!
How we can help?
We are CPA auditors who specialized in franchisor’s audits. Our franchisors clients range from bars, daycares, restaurants, to gyms and charter schools, we have experience with wide range of industries under the franchise industry umbrella. We have helped more than 100 franchisors with their audit requirements.
We’ll help you accomplish the following:
- Auditing financial statements for your franchise disclosure document (FDD)
- Revenue recognition according to franchise industry standards ASC 606
- Franchise accounting and bookkeeping services.
How it works?
Our audit approach is designed specifically to franchisors like yourself to ensure effectiveness and efficiency in the audit process. Therefore, our audit turnaround time is significantly less than any of our peers. We start by understanding your entity and gathering planning documents, such as, FDD, legal documents, etc. We then move to testing your transactions and balances. We ensure then all required disclosures are met before issuing the report to be in compliance with the standards.
If you are a franchisor who need a financial statements audit, please contact us.
FREQUENTLY ASKED QUESTIONS
As a franchisor, you may need an annual financial statement audit to comply with franchise disclosure document (FDD) requirements and other reporting obligations. Below are the most common questions we receive about franchisor financial statement audits.
A Franchisor Financial Statements Audit is a comprehensive examination of a franchisor’s financial records, statements, and transactions. It ensures accuracy, compliance, and transparency in the financial reporting process.
An audit assures stakeholders, including franchisees, investors, and regulatory bodies, that the franchisor’s financial statements are reliable. It helps build trust and confidence in the business. Texas is not a registration state, but the annual audit and Item 21 requirements, including the auditor’s opinion or consent letter, still apply under federal FTC rules.
Our CPA firm specializes in providing affordable Franchisor Audits by having extensive experience across various industries within the franchise sector, including bars, daycares, restaurants, gyms, and charter schools. We have successfully assisted over 100 franchisors with their audit requirements.
We offer a range of services tailored for franchisors, including:
- Auditing financial statements for inclusion in the Franchise Disclosure Document (FDD).
- Ensuring compliance with revenue recognition standards (ASC 606) specific to the franchise industry.
- Providing comprehensive franchise accounting and bookkeeping services.
Our audit approach is meticulously designed for franchisors, ensuring a streamlined and efficient process. This leads to significantly reduced turnaround times compared to industry peers. We begin by understanding your entity and gathering necessary planning documents, followed by thorough testing of transactions and balances.
We prioritize adherence to industry standards and compliance requirements. Our process involves rigorous testing of transactions and balances, along with meticulous attention to detail to ensure all necessary disclosures are met before issuing the final report.
Yes, we understand the importance of affordability for franchisors. Our firm offers cost-effective solutions without compromising on the quality and thoroughness of the audit process. We believe in providing high-value services at reasonable rates.
Please note that while this information provides a general understanding of franchise audits, it is recommended to consult with a financial professional or auditor for specific guidance related to individual situations. If you have any questions, please contact us.